The smart speakers are in a comparatively
early cycle of acceptance in most markets across the globe. Many of the markets
are still adjusting to the notion of having a speaker in their house that is
always listening and ready to respond when called upon. Moreover, the market of
smart speakers has generated ripples of anticipation among the consumers of
modern day. Whereas, the vigorous proliferation of the internet has further
supported the market growth in the last few years. In the present era of IoT and
artificial intelligence have has a commendable impact on the improvement of
smart speakers. Furthermore, the players of this market are developing the
specifications of the smart speakers and transferring the focus on using
connected devices to raise the efficiency of the speakers which further proved
to be benefitted for increasing the value of market share and dominating the
highest market growth around the globe during the forecasted period.
According to the report analysis, ‘Global
Smart Speaker Market by IVA (Alexa, Siri, Google Assistant, Cortana), Component
(Hardware (Processor, Memory, Microphone, Speaker and Others) and Software),
Application (Smart Home, Consumer, and Smart Office), and Regional Forecasts,
2017-2025 (USD Billion/Million)’ states that there are several key players
which are presently functioning in this sector more actively for leading the
fastest market growth and dominating the high value of market share across the
globe in the near future while increasing the activities of promotion and
developing the technologies of forming the smart speakers at a reasonable price
for increasing the demand and generating the high value of revenue includes
Apple, Alibaba, Amazon, Panasonic, Harman International, Alphabet, Sonos, Sony,
Xioami and several others. Moreover, many of the market players are investing
the high amount of money for increasing the efficiency of the smart speakers
which further increase the amount of profit.
Global Smart Speaker Market industry worth
approximately USD 1.16 billion in 2016 is anticipated to rise with a healthy
growth rate of more than 35.29% over the forecast period of 2017-2025.
Moreover, the global market of smart speakers is sectored different which
majorly involves IVA, Component, Application and region. Whereas, based on the
IVA the market is further divided into alexa, siri, google assistant and
Cortana while, on the basis, the market is split into component. Nonetheless,
based on the application, the market is divided into smart home, consumers and
smart office for instance, on the basis of region, the market is spread around
the globe which majorly involves North America, Europe, Asia Pacific, Latin
America and Rest of the World. North America is anticipated to contribute the
handsome amount of share in the market growth across the globe more positively.
Additionally, the major factors driving the
growth are rising need for predictive maintenance, the establishment of
intelligent machine applications, and escalating regulatory compliances.
Therefore, in the near future, it is anticipated that the market of smart
speaker will increase across the globe more positively over the recent few
years.
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